Wednesday, March 13, 2013

It's the level that the minimum wage would be today if it grew at different hypothetical growth rates over the last several decades.

It's an interesting approach. One does wonder why we should expect the minimum wage to be so damaging given that it grows so much slower than productivity (again - local markets matter - it may grow at a slower rate but since it's imposed on some low-price level areas that could still mean a high real minimum wage rate for those areas).

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